Last 47 quarters of trend data · Industrials · Hydrogen & Fuel Cells
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -1.23 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 2.72 | 5.29 | 4.80 | 2.53 | 3.81 | 2.41 | 2.39 | 2.54 | 2.79 | 2.99 | 4.59 | 3.07 | 5.73 | 5.97 | 8.21 | 8.17 | 16.10 | 15.83 | 29.35 | 25.14 | 25.49 |
| — | +119.1% | +101.1% | -0.3% | +36.5% | -19.4% | -47.9% | -17.2% | -51.3% | -49.9% | -44.1% | -62.4% | -64.4% | -62.3% | -72.0% | -67.5% | -36.8% | -59.3% | -54.1% | — | +119.4% | |
| P/B Ratio | 1.67 | 6.42 | 4.06 | 2.27 | 1.80 | 0.95 | 0.66 | 1.08 | 0.64 | 0.57 | 0.75 | 0.94 | 1.30 | 1.66 | 1.76 | 1.78 | 2.88 | 2.21 | 3.69 | 3.54 | 3.12 |
| — | +574.6% | +514.3% | +111.2% | +181.3% | +65.7% | -12.3% | +14.4% | -50.7% | -65.4% | -57.2% | -47.0% | -54.9% | -24.7% | -52.3% | -49.8% | -7.8% | -45.0% | -1.3% | -85.6% | -61.3% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -34.1% | -0.9% | -13.2% | 2.4% | -67.9% | -30.7% | -55.3% | -122.5% | -57.6% | -91.6% | -119.2% | -86.3% | -69.4% | -30.0% | -33.0% | -28.3% | -24.4% | -21.5% | -25.1% | -19.4% | -21.6% |
| — | +96.9% | +76.1% | +102.0% | -17.9% | +66.4% | +53.6% | -41.9% | +17.1% | -204.9% | -261.1% | -204.7% | -184.3% | -39.9% | -31.5% | -46.0% | -13.1% | +33.7% | -48.4% | -112.8% | -572.6% | |
| Operating Margin | -95.7% | -36.0% | -63.6% | -47.5% | -139.4% | -88.3% | -128.7% | -678.7% | -124.4% | -170.7% | -215.7% | -281.7% | -137.9% | -89.9% | -99.8% | -105.9% | -84.7% | -97.1% | -98.8% | -124.0% | -68.6% |
| — | +59.3% | +50.6% | +93.0% | -12.1% | +48.3% | +40.3% | -140.9% | +9.8% | -89.9% | -116.2% | -166.1% | -62.8% | +7.5% | -0.9% | +14.6% | -23.5% | -35.0% | -47.3% | -176.0% | -35.1% | |
| Net Margin | -229.8% | -105.6% | -150.0% | -375.6% | -204.4% | -130.5% | -147.1% | -697.5% | -121.5% | -183.0% | -245.9% | -289.2% | -142.7% | -90.9% | -98.2% | -101.2% | -90.5% | -114.6% | -111.1% | -119.2% | -74.1% |
| — | +19.1% | -2.0% | +46.1% | -68.1% | +28.7% | +40.2% | -141.2% | +14.8% | -101.4% | -150.4% | -185.6% | -57.6% | +20.7% | +11.6% | +15.0% | -22.1% | -43.2% | -31.7% | -172.1% | -21.7% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -116.1% | -27.7% | -27.6% | -67.6% | -22.2% | -12.3% | -10.5% | -55.2% | -7.0% | -8.9% | -10.2% | -20.1% | -7.8% | -6.2% | -5.2% | -5.4% | -4.0% | -3.9% | -3.4% | -4.1% | -2.2% |
| — | -125.1% | -162.5% | -22.5% | -216.1% | -38.6% | -3.6% | -175.4% | +10.3% | -43.7% | -96.1% | -271.7% | -96.1% | -57.0% | -50.2% | -30.2% | -78.3% | -92.4% | -56.2% | +95.1% | +85.3% | |
| ROA | -52.7% | -8.3% | -9.9% | -29.7% | -11.2% | -6.5% | -5.4% | -32.1% | -4.4% | -5.4% | -6.1% | -12.4% | -5.1% | -4.2% | -3.6% | -3.8% | -2.9% | -3.0% | -2.7% | -3.3% | -1.9% |
| — | -27.0% | -81.9% | +7.4% | -152.2% | -19.3% | +10.4% | -158.5% | +13.5% | -29.5% | -67.7% | -222.7% | -74.4% | -40.1% | -35.9% | -16.5% | -59.2% | -74.5% | -56.5% | +90.8% | +64.1% | |
| ROIC | -24.7% | -3.4% | -5.2% | -4.3% | -7.5% | -4.4% | -4.9% | -29.8% | -4.2% | -4.9% | -5.1% | -11.4% | -4.8% | -4.1% | -3.6% | -4.6% | -3.8% | -3.9% | -3.6% | -6.0% | -3.3% |
| — | +22.1% | -6.6% | +85.7% | -78.2% | +9.6% | +5.0% | -162.1% | +13.0% | -17.8% | -40.6% | -147.7% | -26.6% | -6.8% | -0.1% | +23.8% | -14.6% | -3.9% | +2.6% | +88.5% | +43.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.99 | 1.40 | 1.31 | 0.99 | 0.66 | 0.56 | 0.51 | 0.60 | 0.31 | 0.31 | 0.32 | 0.39 | 0.28 | 0.26 | 0.24 | 0.22 | 0.21 | 0.19 | 0.18 | 0.18 | 0.16 |
| — | +149.2% | +155.7% | +66.6% | +115.8% | +83.5% | +57.4% | +53.6% | +10.6% | +18.1% | +38.0% | +75.5% | +30.7% | +37.0% | +28.6% | +25.8% | +36.7% | +29.8% | +34.5% | -81.6% | -83.5% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.31 | 2.32 | 2.36 | 2.31 | 1.32 | 1.59 | 1.95 | 1.97 | 2.08 | 2.07 | 1.94 | 1.85 | 2.41 | 3.16 | 4.39 | 5.20 | 6.09 | 9.10 | 11.44 | 10.58 | 17.74 |
| — | +45.9% | +21.2% | +17.0% | -36.5% | -23.0% | +0.4% | +6.6% | -13.7% | -34.7% | -55.9% | -64.4% | -60.5% | -65.3% | -61.6% | -50.8% | -65.7% | -54.0% | -56.9% | +242.8% | +501.5% | |
| Quick Ratio | 1.46 | 1.32 | 1.40 | 1.46 | 0.70 | 0.82 | 1.07 | 1.06 | 0.95 | 0.91 | 0.87 | 0.86 | 1.31 | 2.07 | 3.25 | 4.19 | 5.23 | 8.10 | 10.51 | 9.94 | 16.89 |
| — | +61.0% | +31.6% | +37.2% | -25.9% | -9.3% | +22.9% | +24.1% | -27.2% | -56.3% | -73.3% | -79.6% | -75.0% | -74.5% | -69.1% | -57.9% | -69.0% | -57.2% | -58.9% | +289.1% | +592.1% | |
| Interest Coverage | -25.00 | -10.24 | -13.18 | -41.57 | -21.08 | -13.35 | -16.14 | -79.43 | -22.07 | -26.62 | -23.16 | -32.58 | -23.42 | -20.07 | -18.51 | -20.60 | -17.76 | -14.43 | -17.14 | -19.46 | -10.21 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying PLUG stock.
Plug Power Inc.'s current P/E is -1.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Plug Power Inc.'s current operating margin is -95.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Plug Power Inc.'s business trajectory between earnings reports.